Tony Xia
Tony Xia | |
|---|---|
| Born | Quzhou, Zhejiang, China |
| Occupation(s) | Entrepreneur, Businessman |
| Years active | 1999–present |
| Known for | Chairman, CEO, and proprietor of Recon Group; former chairman of Aston Villa F.C. |
Tony Jiantong Xia () is a Chinese entrepreneur who serves as the chairman, CEO, and proprietor of Recon Group.
Early life and education
Originating from Quzhou, Zhejiang, Xia left his hometown at the age of 14 to pursue higher education in Beijing. Out of 1,000 applicants, he was one of 25 selected to study overseas at prestigious institutions including Harvard University (specializing in landscape design) and the Massachusetts Institute of Technology (MIT), along with completing a five-month exchange program at Trinity College, Oxford during 1998–99. He earned a doctorate in urban planning design.
Career
In March 1999, Xia established the design firm XWHO in Boston, USA, co-owned with his then-partner and one of his instructors. The business later moved its operations to Hangzhou, China, where he founded Teamax, a planning company which he eventually sold for £430 million.
Recon Group
Xia took ownership of Recon Group in 2004. Headquartered in Beijing and Hangzhou, Recon Group functions as the parent company for Xia’s diverse enterprises spanning IT, healthcare, agriculture, renewable energy, smart transportation, engineering and design, financial services, as well as sports and tourism sectors. He has announced intentions to invest in or acquire football clubs across India, Spain, the United States, and Australia to broaden his sports-related portfolio.
In February 2017, Recon Holding reached an agreement to acquire a 51% majority stake in Millennium Films, a Hollywood action movie studio, for $100 million. Avi Lerner remained as CEO while Xia was slated to become chairman. However, this transaction was called off in August 2017 due to regulatory restrictions imposed by the Chinese government on overseas investments.
On 19 March 2020, Xia declared that Recon Group had reoriented its focus towards its Healthcare and Bioscience division amid the global pandemic. The division has been engaged in manufacturing and exporting COVID-19 diagnostic kits, hand sanitizers, ventilators, thermometers, and personal protective equipment worldwide.
Aston Villa F.C.
On 18 May 2016, Recon Group agreed to acquire Aston Villa from American businessman Randy Lerner for an estimated £60 million, incorporating the club into its Sports, Leisure and Tourism segment. The purchase was finalized on 14 June 2016 at roughly £76 million following approval from the Football League, with Xia assuming the role of chairman.
Despite significant investment by Xia into the club, complications with transferring funds from China to the UK led to financial difficulties. On 5 June 2018, Aston Villa failed to meet a £4 million tax payment deadline resulting in a winding-up petition and threat of closure. The following day saw Xia suspend CEO Keith Wyness, who subsequently resigned amid unauthorized negotiations concerning potential administration and point deductions. On 7 June, Xia reached an arrangement with HM Revenue and Customs to pay £500,000 immediately while deferring the remainder of the debt. This move avoided an immediate crisis but did not resolve underlying financial issues. In July 2018, Xia sold his controlling interest to NSWE but retained a minority shareholding and continued as co-chairman.
In June 2019, Wyness initiated legal proceedings alleging constructive dismissal; this was settled out of court with the club affirming his integrity. A later attempt by Wyness to sue Xia personally was dismissed due to logistical challenges and financial strain posed by Xia’s residence in China.
By 9 August 2019 records from Companies House indicated that Recon Group’s minority shares had been acquired by others and that Xia no longer held any ownership stake in Aston Villa.
Legal Matters
On 18 October 2019, an arrest warrant was issued by a Beijing court for Xia, accompanied by a £30,000 bounty for any information leading to his capture. Both Recon Group and Xia were accused of Breach of Contract and Failure to Settle Debts. Xia refuted these claims on Twitter, describing them as fabrications originating from a "local rival." Reports indicate that between July 2020 and January 2021, he was held in detention facilities for six months following an arrest linked to allegations of damaging the interests of a Shenzhen-listed manufacturing firm.
An investigation conducted by Al Jazeera in 2021 into purported money laundering within English football implied that Xia's ownership stake in Aston Villa could have been a façade for an unidentified investor. An intermediary confided to an undercover reporter that the financial resources did not belong to Xia. Subsequently, former associate Keith Wyness challenged Xia's proclaimed wealth, highlighting the absence of independently verifiable data and raising doubts about his financial acumen despite portrayals of him as a billionaire with multiple enterprises.
Personal Background
Xia lives in Beijing alongside his wife, Sally, and their child. His support for Aston Villa began during his time at Oxford University, where he also played as a forward in college football matches. He considers himself a self-made millionaire, with his fortune estimated at £1 billion as of 2018. Xia is also known by the English name Tony Xia.